Japan’s lifers make their case for subordinated debt overseas

Japan’s life insurers will be visiting global investors to sell subordinated debt despite plenty of liquidity back home.

  • By Frances J. Yoon
  • 06 Sep 2013

Fukoku Mutual Life Insurance Company has mandated banks to issue a subordinated US dollar deal in a perpetual non call 10 format, according to a term sheet.

The issuer has mandated Bank of America Merrill Lynch, Citi, Mizuho and Nomura to arrange investor meetings for the Reg S ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 8,539.81 48 5.68%
2 UniCredit 8,310.71 49 5.53%
3 LBBW 7,986.15 46 5.31%
4 Natixis 7,841.57 37 5.22%
5 Credit Suisse 7,360.16 38 4.90%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 52,355.80 185 6.78%
2 JPMorgan 50,673.66 201 6.57%
3 Citi 46,973.99 239 6.09%
4 Goldman Sachs 43,227.47 325 5.60%
5 Morgan Stanley 41,812.90 219 5.42%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 43,004.00 155 11.17%
2 JPMorgan 42,312.21 144 10.99%
3 Citi 38,799.49 190 10.08%
4 Goldman Sachs 35,233.41 291 9.15%
5 Morgan Stanley 32,672.22 174 8.49%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,263.92 23 8.06%
2 UniCredit 5,364.43 20 6.90%
3 LBBW 4,811.97 20 6.19%
4 SG Corporate & Investment Banking 4,208.56 18 5.42%
5 Deutsche Bank 4,163.44 13 5.36%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 HSBC 4,729.28 11 12.78%
2 UBS 3,374.07 13 9.12%
3 BNP Paribas 2,704.23 11 7.31%
4 Credit Agricole CIB 2,458.47 6 6.64%
5 SG Corporate & Investment Banking 2,263.58 10 6.12%